What is Digital Transformation?
Businesses today are undergoing a digital transformation, i.e. they are moving away from paper, in-house hardware and software and migrating to the cloud. This digital transformation has become necessary to stay relevant in today’s digital business atmosphere. Not only is data digital, but the workforce too has faced a transformation, as they need to be constantly online in order to serve customers and clients better. A more connected world has led to the digital transformation of companies worldwide, including India.
Digital Transformation and Its Key Elements
Companies have to undergo digital transformation to compete with their rivals. Key components of digital transformation are:
Moving To the Cloud
Instead of maintaining in-house hardware and software, and digitizing all records, keeping paper use to a minimum, companies are moving their data to the private, public or hybrid cloud, regardless of the size of the company. The cloud makes data available for use 24x7x365, which means workers can access data anytime, anywhere in the world.
Change in Work Culture
Employees have access to company data at all times, allowing them to service customers across all time zones.
More Capital for Developing New Products
As organizations do not have to spend on hardware or software and spend huge amounts to maintain them annually, they have more capital which they can use to develop better products.
Why Digital Transformation?
Digital transformation enables companies to track consumer data, from queries, buying behaviour, complaints etc and also to keep a record of each consumer’s interaction with the company. This helps customer service to improve and leads to the creation of a loyal customer base as well as greater conversions.
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